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2320 Walling Avenue La Habra, CA 90631

3 Beds 2 Baths 1,756 sqft Built 1958

$719,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $409.45
  • 3 Days on Market
  • MLS # : PW20226831
  • Updated Date : 11/01/2020 at 11:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,756 sqft
  • Baths : 2 full
Listing Agent

Homequest Real Estate

Listing Agent's Description

Welcome to this Spacious Family Home! This home offers an Awesome Open Floor Plan. As you enter the entryway you are greeted by a Large Living Room open to the very inviting Dining Room (with bright windows and window bench for seating complete with storage). The Dining room is open to the Fabulous Kitchen fit for the most discriminating chef! The Fabulously designed Kitchen has custom cabinetry with gorgeous granite counters and built in stainless steel appliances and a working Island complete with secondary sink and seating. If that's not enough this all flows into the super sized Family Room complete with Fireplace and walk around Bar. There are 3 Bedrooms and 2 Bathrooms with new vanities (one is a Master Bedroom). Ceiling Fans in all bedrooms and family room. The large backyard is hardscaped with brick pavers featuring a large patio, lush grass area, Built in BBQ, Fire Ring Area and Storage Shed. New Air Conditioning and Furnace with new ducting. Updated Dual Pane Windows and Sliders. Direct access to Garage. Plenty of parking on Driveway. All this and just 3 doors from the city of Brea.

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Zip Code: 90631

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $217k742k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 90631

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17143345

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Sierra Vista Elementary School Primary Regular 532 20 5
Washington Middle School Middle Regular 854 33 4
Sonora High School High Regular 1,924 67 9

Sierra Vista Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 20
5
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 33
4
GreatSchools Rating

Sonora High School

  • Education Level: High
  • # of students: 1,924
  • # of teachers: 67
9
GreatSchools Rating
 

$647,100$790,900$719,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,653
Property Tax -$756
Property Insurance -$70
Property Management Fees -$153
CASH FLOW
-$501

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$719,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$196,285

INVESTMENT

$196,285

Down Payment
$179,750
Rehab Estimate
$5,750
Closing Costs
$10,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $179,750
Loan Amount $539,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$16,765

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,130

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,165

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,1003$3,1004$3,1305$3,195
$3,195
RENT COMPS ANALYSIS
  • 2320 Walling Avenue La Habra, CA 4
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $1.78
    •  
  • 1301 Wickford Drive Brea, CA 1
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1961
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.84
    •  
  • 1240 Traci Drive Brea, CA 2
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.72
    •  
  • 919 Carlson Drive Brea, CA 3
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1962
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.88
    •  
  • 1232 Tracie Drive Brea, CA 5
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1972
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.77
    •  
PROPERTY LISTING DETAILS
Norma Paris
Homequest Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20226831
Last Updated: 11/01/2020
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